BOC to Auction Seized Smuggled Luxury Cars to Raise Pandemic Response Funds
The Bureau of Customs (BOC) wants to auction the smuggled luxury cars that were recently seized to raise funds for pandemic response.
Instead of being destroyed, luxury cars suspected to be smuggled by BOC will be auctioned off in the following two weeks. This comes as the government looks for methods to bolster its finances in order to deal with the coronavirus illness (COVID-19) issue.
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The BOC and the Bureau of the Treasury (BTr) said in a joint statement that the luxury automobiles will be sold at public auction “as instructed by Finance Secretary Carlos Dominguez.” Through a memorandum of understanding, the two agencies, along with the Land Bank of the Philippines, formed an Inter-Agency Auction Committee.
The inter-agency committee will guarantee that the auction process is transparent and that competition is promoted by widely disseminating auction information. On December 13, 2021, the BTr will host the first auction.
A 2008 Ferrari Scuderia 430 and a 2001 Mercedes Benz E220 are among the five luxury vehicles up for grabs. All were seized in May and June of this year, according to the BOC, and the BOC issued final and executory forfeiture orders.
The entire auction process will be live-streamed on the three agencies’ respective Facebook sites. From December 2 through December 9, 2021, interested bidders can register with the BOC. PUC Ground, Gate 3, South Harbor, Port Area, Manila will be inspected on December 9 and 10, 2021.
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